# UK’s Made.com to cut jobs and launch strategic review
Published: 2022-09-23
Category: News
Category URL: https://globalislamicfinancemagazine.com/category/news/
Meta Title: Made.com Cuts Jobs and Conducts Strategic Review Amid Challenging Market Conditions
Meta Description: British online furniture retailer Made.com will cut jobs, review strategic options, and withdraw full year forecast due to tough market conditions.
URL: https://globalislamicfinancemagazine.com/uks-made-com-to-cut-jobs-and-launch-strategic-review/

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(Reuters) -British online furniture retailer Made.com said on Friday it would cut jobs, conduct a strategic review, including a formal sale process, and withdraw its full year forecast due to “challenging” market conditions.

Made.com would cut back costs by laying off staff within the next few weeks, it said in a statement. It didn’t immediately disclose the number of employees that would be laid off.

The company, which made its London market debut in June last year, said it has had to sell goods on discount to slash inventories, which hurt margins and cash position.

(Reporting by Amna Karimi in Bengaluru; Editing by Dhanya Ann Thoppil)


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